Audit by Audit & Supervisory Board Members
The Company’s Audit & Supervisory Board is comprised of 2 full-time Audit & Supervisory Board Members and 3 Outside Audit & Supervisory Board Members, who are independent officers. Audit & Supervisory Board Members conduct regular audits of each of the Company’s and the TDK Group’s departments regarding the conditions of business execution by departmental audit, inspection of important documents and attendance of important meetings.
Audit & Supervisory Board Members and the Audit & Supervisory Board have regular meetings with the Representative Director to confirm the Company’s management policies while exchanging opinions on the issues to be addressed by the TDK Group, risks surrounding the TDK Group and key issues concerning the audit by Audit & Supervisory Board Members and other issues, thus deepening mutual understanding with the Representative Director.
The Management Review & Support Group, an internal audit department of the Company, is organized by 15 members. The internal audit department audits and supports each department of TDK Group in order to promote consistency in relation to business operations and management policies, efficiency of management, and compliance with relevant laws and regulations. The Management Review & Support Group and full-time Audit & Supervisory Board Members share information and seeks to conduct effective internal audits.
The Management Review & Support Group regularly confirms the Accounting Auditor’s audit activities through quarterly financial statements, etc. and regularly exchanges opinions with the Accounting Auditor regarding the status of evaluation of the “effectiveness of internal controls over financial reporting” in accordance with the Financial Instruments and Exchange Act of Japan.
The Company has concluded an audit agreement with KPMG AZSA LLC and has been receiving accounting audits.
Certified public accountants who conducted the accounting audit of the Company include Mr. Yutaka Terasawa, Mr. Michiaki Yamabe, and Mr. Kohei Shingaki, who belong to KPMG AZSA LLC and act as the company’s Designated Engagement Partners.
Additionally, 16 certified public accountants, 12 assistant certified public accountants, and 11 other people worked to assist the above accountants in conducting the Company’s accounting audit.
Audit fees, etc.
Details of fees to auditors
|Category||Fiscal 2021||Fiscal 2022|
|Fees for non-attest service
|Fees for non-attest service
In fiscal 2020, the content of non-attest service that TDK Corporation will pay to KPMG AZSA LLC, TDK Corporation’s auditors, is guidance and advice for accounting standards. In fiscal 2021, the content of non-attest service that TDK Corporation will pay to KPMG AZSA LLC, TDK Corporation’s auditors, is for the production of comfort letters related to the issue of bonds.